SFBC revises 2005 earnings, revenue guidance

SarahTurner

LONDON (MarketWatch) -- Drug development services company SFBC International Inc.
sfcc
said that it has adjusted its guidance for fiscal 2005 to take into account an unexpected revenue shortage, which it said was exacerbated by several Bloomberg articles. The company said it's now expecting to produce non-GAAP earnings between $1.88 and $1.93 a share for 2005 and of between $1.93 and $1.99 a share in 2006. Analysts polled by Thomson First Call had expected the company to report average earnings of $1.92 for 2005 and $1.97 for 2006. Revenue for 2005 is expected to be in a range of $329 million to $330.5 million. Separately, the company said that an independent counsel review report has rejected allegations made by Bloomberg. The company said that the report found that the articles are flawed and that there were no deaths and three claims.

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